SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
The Punjab and Haryana High Court addressed the issue of refund of excess Input Tax Credit (ITC) and entitlement to interest on delayed refund. The petitioner's application for refund of excess ITC from 2010-11 to 2013-14 was rejected, directing them to apply from the relevant year. The court held that interest on the refund accrued from the date of the first application (27.11.2020) and should have been paid after sixty days. The subsequent assessment proceedings did not affect the petitioner's right to interest on the accrued amount. The court allowed the petition, directing payment of interest on the refunded amount.
The Punjab and Haryana High Court addressed the issue of refund of excess Input Tax Credit (ITC) and entitlement to interest on delayed refund. The petitioner's application for refund of excess ITC from 2010-11 to 2013-14 was rejected, directing them to apply from the relevant year. The court held that interest on the refund accrued from the date of the first application (27.11.2020) and should have been paid after sixty days. The subsequent assessment proceedings did not affect the petitioner's right to interest on the accrued amount. The court allowed the petition, directing payment of interest on the refunded amount.
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TaxTMI 
TaxTMI 
of 4883 
